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            october 21, 2019

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Idle fleet drops to 340,000 TEU


The total worldwide idle containership fleet has fallen to 174 vessels for 340,000 TEU as demand calls for the redeployment of more vessels, according to the Shipping Gazette. 
This represents 2.5 per cent of the total world fleet, and is the lowest idling percentage recorded since December 2008, reports Alphaliner.
"The drop in the idle fleet comes amidst a record number of new vessel deliveries made in the second quarter. During the April-June period, 88 new vessels with a total capacity of 440,000 TEU were delivered. This is the highest level of quarterly deliveries ever recorded," it said.
"The depleted fleet of idle ships has led to a mini-revival in charter rates, with the smaller sizes also starting to move upwards. This trend could be observed in recent weeks as demand, especially in the Far East, increased."

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